engleski

Capital structures of Small and Medium-Sized Firms in Transitional Economies

This paper seeks to shed light on how privatization has impacted the capital structure of small and medium sized firms. To do this, we compare a country that has yet to start massive privatization and one that is in the middle of the process, i.e. Croatia and Slovenia. Financial ratios are calculated for both of the countries to determine how capital structures change as privatization progresses. We expect to find that the more developed countries, and those where privatization has developed the fastest, will have greater degrees of financial leverage and less reliance on short-term financing.

capital structure; small and medium sized firms; transitional economies

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